High Court dismisses SWFC winding up order
by Pete Hayman | 09 Sep 2010
A winding up order issued against Sheffield Wednesday Football Club (SWFC) has been dismissed by London's High Court after a bank deal helped secure the club's future.
The npower League One club was served the petition by HM Revenue and Customs (HMRC) over an unpaid tax bill believed to total £1.1m. It comes more than a month after the club survived a similar challenge. However, SWFC confirmed that it reached a deal with the Co-operative Bank to help the club see off the HMRC winding up order and stave off the potential threat of administration for the immediate future.
SWFC interim chair Howard Wilkinson said: "Although the medium to longer term financial health of the club is moving in the right direction, we have had a major short term problem. "The Co-operative Bank have acted diligently and shown great understanding in their discussions with Nick Parker and myself in recent days."
Meanwhile, Blue Square Bet North club Ilkeston Town Football Club has lost its fight against being wound up over £50,000 tax debts, after being described as "plainly insolvent" by a High Court official. A two-minute hearing was enough to seal its fate on 8 September. Registrar Derrett said: "I'm sorry, the company is plainly insolvent and I therefore make the final compulsory order."
Elsewhere, Maidstone United Football Club (MUFC) of the Ryman League Premier Division has confirmed that shareholder Oliver Ash has agreed terms with chair Paul Bowden-Brown to acquire the club. Bowden-Brown said: "It has taken hours of work to get us to this point. Heads of Terms, subject to contract, were signed today [8 September].
"Oliver and I are very close to a conclusion and we will inform everyone once we have finalised everything and agreed a takeover date."
A winding up order issued against Sheffield Wednesday Football Club (SWFC) has been dismissed by London's High Court after a bank deal helped secure the club's future. The npower League One club was served the petition by HM Revenue and Customs (HMRC) over an unpaid tax bill believed to total £1.1m. It comes more than a month after the club survived a similar challenge. However, SWFC confirmed that it reached
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